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Time to Chirp; an Advice to Pakistan, China and India

Received: 16 February 2017     Accepted: 4 March 2017     Published: 20 May 2017
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Abstract

The scientific research is the key for industrialization. The objectives of this paper are to investigate the relationship between stock market growth and economic development and the moderating effect of scientific research on this relationship. The panel study is done by taking three countries Pakistan, China and India and the sample data is taken for each country from 1992-2012. The STATA 11 is used for statistical analysis and Hausman Test signifies the significant of random-effects regression model. The results show that the relationship between stock market and economic growth is significant and the moderating effect of scientific research is also significant. The Breusch and Pagan Lagrangian Multiplier test for random-effects model also show significance of the random-effects model. The study is very beneficial for these countries to focus on scientific research in future.

Published in Journal of Business and Economic Development (Volume 2, Issue 3)
DOI 10.11648/j.jbed.20170203.17
Page(s) 182-186
Creative Commons

This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.

Copyright

Copyright © The Author(s), 2017. Published by Science Publishing Group

Keywords

Scientific Research, Stock Market Growth, Economic Development, Hausman Test, Random-Effects Model, Lagrangian Multiplier Test

References
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[3] Bayar, Y. K. (2014). Effects of stock market development on economic growth: Evidence from Turkey. International Journal of Financial Research, 5(1), 93.
[4] Bilal, B. C. (2016). Impact of Stock Market Development on Economic Growth: Evidence from Lower Middle Income Countries. Management and Administrative Sciences Review, 5(2), 86-97.
[5] Brown, E. D. (2016). The Imperative of Stock Market on Economic Growth in Nigeria:“The Endogenous Growth Model”. Bus Eco J, 7(200), 2.
[6] Enisan, A. A. (2009). Stock market development and economic growth: Evidence from seven sub-Sahara African countries. Journal of economics and business,, 61(2), 162-171.
[7] Fraenkel, J. R. (1993). How to design and evaluate research in education (Vol. 7). New York: McGraw-Hill.
[8] Kolapo, F. T. (2012). The impact of the Nigerian capital market on economic growth (1990-2010). International Journal of Developing Societies, 1(1), 11-19.
[9] Mahmood, A. (2013). "Impact of Financial Development on Economic Growth of Pakistan.". Abasyn Journal of Social Sciences, 6.2: 106-116.
[10] Naik, P. K. (2015). On the linkage between stock market development and economic growth in emerging market economies. Review of Accounting & Finance, 14(4), 363.
[11] Pan, L. &. (2016). Stock Market Development and Economic Growth: Empirical Evidence from China.
[12] Paramati, S. R. (2013). An empirical analysis of stock market performance and economic growth: Evidence from India. International Research Journal of Finance and Economics, ISSN, 1450-2887.
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[17] Ullah, Z. &. (2016). LONG TERM RELATIONSHIP BETWEEN STOCK MARKET DEVELOPMENT AND ECONOMIC GROWTH IN SOUTH ASIA: PANEL DATA & ARDL MODEL ESTIMATIONS. Pakistan Business Review, 18(3), 541-557.
[18] Valickova, P. H. (2015). Financial Development and Economic Growth: A Meta-Analysis. Journal of Economic Surveys, 29(3), 506-526.
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Cite This Article
  • APA Style

    Muhammad Aamir Ali, Muhammad Afzal Asghar, Haroon Sarwar, Daniyal Saleem, Sehrish Ammar, et al. (2017). Time to Chirp; an Advice to Pakistan, China and India. Journal of Business and Economic Development, 2(3), 182-186. https://doi.org/10.11648/j.jbed.20170203.17

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    ACS Style

    Muhammad Aamir Ali; Muhammad Afzal Asghar; Haroon Sarwar; Daniyal Saleem; Sehrish Ammar, et al. Time to Chirp; an Advice to Pakistan, China and India. J. Bus. Econ. Dev. 2017, 2(3), 182-186. doi: 10.11648/j.jbed.20170203.17

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    AMA Style

    Muhammad Aamir Ali, Muhammad Afzal Asghar, Haroon Sarwar, Daniyal Saleem, Sehrish Ammar, et al. Time to Chirp; an Advice to Pakistan, China and India. J Bus Econ Dev. 2017;2(3):182-186. doi: 10.11648/j.jbed.20170203.17

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  • @article{10.11648/j.jbed.20170203.17,
      author = {Muhammad Aamir Ali and Muhammad Afzal Asghar and Haroon Sarwar and Daniyal Saleem and Sehrish Ammar and Aroopa Iqbal},
      title = {Time to Chirp; an Advice to Pakistan, China and India},
      journal = {Journal of Business and Economic Development},
      volume = {2},
      number = {3},
      pages = {182-186},
      doi = {10.11648/j.jbed.20170203.17},
      url = {https://doi.org/10.11648/j.jbed.20170203.17},
      eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.jbed.20170203.17},
      abstract = {The scientific research is the key for industrialization. The objectives of this paper are to investigate the relationship between stock market growth and economic development and the moderating effect of scientific research on this relationship. The panel study is done by taking three countries Pakistan, China and India and the sample data is taken for each country from 1992-2012. The STATA 11 is used for statistical analysis and Hausman Test signifies the significant of random-effects regression model. The results show that the relationship between stock market and economic growth is significant and the moderating effect of scientific research is also significant. The Breusch and Pagan Lagrangian Multiplier test for random-effects model also show significance of the random-effects model. The study is very beneficial for these countries to focus on scientific research in future.},
     year = {2017}
    }
    

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  • TY  - JOUR
    T1  - Time to Chirp; an Advice to Pakistan, China and India
    AU  - Muhammad Aamir Ali
    AU  - Muhammad Afzal Asghar
    AU  - Haroon Sarwar
    AU  - Daniyal Saleem
    AU  - Sehrish Ammar
    AU  - Aroopa Iqbal
    Y1  - 2017/05/20
    PY  - 2017
    N1  - https://doi.org/10.11648/j.jbed.20170203.17
    DO  - 10.11648/j.jbed.20170203.17
    T2  - Journal of Business and Economic Development
    JF  - Journal of Business and Economic Development
    JO  - Journal of Business and Economic Development
    SP  - 182
    EP  - 186
    PB  - Science Publishing Group
    SN  - 2637-3874
    UR  - https://doi.org/10.11648/j.jbed.20170203.17
    AB  - The scientific research is the key for industrialization. The objectives of this paper are to investigate the relationship between stock market growth and economic development and the moderating effect of scientific research on this relationship. The panel study is done by taking three countries Pakistan, China and India and the sample data is taken for each country from 1992-2012. The STATA 11 is used for statistical analysis and Hausman Test signifies the significant of random-effects regression model. The results show that the relationship between stock market and economic growth is significant and the moderating effect of scientific research is also significant. The Breusch and Pagan Lagrangian Multiplier test for random-effects model also show significance of the random-effects model. The study is very beneficial for these countries to focus on scientific research in future.
    VL  - 2
    IS  - 3
    ER  - 

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Author Information
  • School of Accounting and Finance, University of Central Punjab, Lahore, Pakistan

  • MPHil Students School, Accounting and Finance, University of Central Punjab, Lahore, Pakistan

  • MPHil Students School, Accounting and Finance, University of Central Punjab, Lahore, Pakistan

  • MPHil Students School, Accounting and Finance, University of Central Punjab, Lahore, Pakistan

  • MPHil Students School, Accounting and Finance, University of Central Punjab, Lahore, Pakistan

  • MPHil Students School, Accounting and Finance, University of Central Punjab, Lahore, Pakistan

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